Treasury scraps controversial 5pc capital gains tax after rejection
Treasury scraps controversial 5pc capital gains tax after rejection Treasury secretary Henry Rotich has scrapped the controversial five per cent tax on the gains made from selling shares and instead introduced a 0.3 per cent withholding tax on sales value. Resistance by the Kenya Association…
Closing Bell: Standard Chartered Bank Top Gainer at the NSE
Closing Bell: Standard Chartered Bank Top Gainer at the NSE Standard Chartered Bank Kenya (SCBK) was the top gainer at the NSE. It gained 4.21% to close the day at KES 297.00 which was a KES 12.00 gain in share price. Mumias Sugar Company (MSC) was the top loser with…
Barclays Africa buys stake in First Assurance for Sh2.9bn
Barclays Africa buys stake in First Assurance for Sh2.9bn Johannesburg-based Barclays Africa is set to acquire a controlling stake in Kenya’s First Assurance for Sh2.9 billion in a transaction that opens the door for the bank’s Kenyan subsidiary to gain a foothold in the insurance market.Barclays Africa on Wednesday announced…
Closing Bell: Eaagads Limited Top Gainer as Unga Limited Declines
Closing Bell: Eaagads Limited Top Gainer as Unga Limited Declines Eaagdas limited (EGAD) was the top gainer at the NSE. It gained 10% to close the day at KES 33.00 which was a KES 3.00 gain in share price. Unga Group Limited (UNGA) was the top loser with a drop…
Uhuru rejects mobile T-bill investment
Uhuru rejects mobile T-bill investment President Uhuru Kenyatta has rejected changes to the law that would have allowed retail buyers to invest small amounts in State securities, including through mobile phones. The proposed changes to the Central Bank of Kenya Act would have forced the banks’…
Closing Bell:Unga Group Limited Top Gainer as Standard Group Declines.
Closing Bell:Unga Group Limited Top Gainer as Standard Group Declines. Unga Group Limited (UNGA) was the top gainer at the NSE. It gained 8.57% to close the day at KES 47.50 which was a KES 3.75 gain in share price. Standard Group Limited (SGL) was the top loser with a…
BAT Kenya’s share down on foreigner exits, stringent law
BAT Kenya’s share down on foreigner exits, stringent law BAT Kenya’s share has shed gains made in May as foreigners exited against a background of shilling volatility and a tougher regulatory regime which slapped a two per cent tax on local sales from last Friday.Foreign investors…
Closing Bell: CFC Stanbic Top Gainer as Pan African Insurance Declines
Closing Bell: CFC Stanbic Top Gainer as Pan African Insurance Declines CFC Stanbic (CFC) was the top gainer at the NSE today. It gained 5.88% to close the day at KES 108 which was a KES 6.00 gain in share price. Pan African Insurance (PAFR) was the top loser as…
Banks demand retrenchment insurance for borrowers
Banks demand retrenchment insurance for borrowers Commercial banks are increasingly demanding insurance cover against retrenchment for customers seeking personal loans, signaling increased concerns over the rising load of bad debts. Commercial Bank of Kenya (CBA) last week announced a requirement for salaried borrowers seeking secured and…
Tobacco farmers to lose as sponsor scales down operations
Tobacco farmers to lose as sponsor scales down operations Global raw tobacco merchant, Alliance One International, has announced plans to scale down its operations in Kenya, a move expected to hit farmers hard. Its core operations involve sponsoring farmers to produce tobacco mainly in Migori County, processing and exporting to…
Closing Bell: Kakuzi Limited Top Gainer as Flame Tree Declines
Kakuzi Limited (KUKZ) was the top gainer at the NSE today. It gained 7.14% to close the day at KES 300.00 which was a KES 20 gain in share price. Flame Tree Group Holdings was the top loser at the NSE with a drop of 7.87% to close the day…
Co-op Bank jumps ahead of StanChart in NSE stock value
Co-op Bank jumps ahead of StanChart in NSE stock value Cooperative Bank’s market value has jumped ahead of Standard Chartered to become the third-largest listed lender, for the first time putting indigenous banker in the top-three spots.Cooperative Bank is now valued at Sh105 billion—behind leaders KCB and Equity—with its share…
Closing Bell: Scangroup Limited Top Gainer
Scangroup Limited (SCAN) was the top gainer at the Nairobi Securities Exchange (NSE). The counter registered a gain of 6% to close the day at KES 39.75. This was a KES 2.25 gain in share price. British American Tobacco Kenya was the worst performing share registering a drop of 8.28%…
Shilling’s decline could scale down ballooning imports
Shilling’s decline could scale down ballooning imports The recent weakening of the shilling against the dollar could help address Kenya’s uncompetitive production of goods and reduce imports, economists at CfC Stanbic say. The shilling is still relatively strong in real exchange rate compared to the currencies…
Closing Bell: Standard Group Limited Top Gainer as CFC Stanbic Declines
Standard Group Limited (SGL) was the top gainer at the Nairobi Securities Exchange. The counter had a gain of 9.77% to the close the day at KES 36.50. This was a KES 3.25 gain in share price. CFC Stanbic Holdings Limited (CFC) closed the day as the top loser registering…
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